What is the role of a Process Agent?
A process agent is a representative/an address upon whom court papers may be served. Process agents accept services of notices, proceedings or documents on behalf of their overseas clients in situations where it is not possible for them to be served abroad. A process agent can act in a broad capacity for a company including but not limited to: acting as a process agent for court actions, receiving documents in connection with arbitration proceedings and receiving notices under contracts where an independent party is needed.
Why do you need a process agent?
The role for a process agent can be vital for cross-border transactions. If one of the involved parties does not have a physical presence or address within the jurisdiction where the transaction is taking place, serving legal documentation can become a long and overly complicated process. Further to that, if papers have to be served abroad, where the relevant transaction party has its presence, this can cause delays, among other issues.
How can we assist?
We offer process agent services to clients who have entered into legal agreements in a jurisdiction for which a local agent appointment is required. In cases when clients have no representation in Hong Kong, our Hong Kong tax office is able to provide those clients with a process agent in Hong Kong.
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Hong Kong 2019-2020 Budget7 March 2019
Introduction On 27 February 2019, the Financial Secretary of Hong Kong announced the Budget for the fiscal year 2019-2020. The forecast is that for the fiscal year 2018-19, there will be a surplus of HKD 58.7 billion, and that the fiscal reserves will reach HKD 1,161.6 billion by 31 March 2019. This Budget has been… read more
The Taxation of the Digital Economy4 January 2019
Introduction Many of us have heard or might even have read about the taxation of the digital economy. This not only because the Organisation for Economic Co-Operation and Development (‘OECD’) and the European Union (‘EU’) both have issued reports on this matter, but also because it has become a ‘hot topic’ within the society itself… read more
Potential Risks of Erroneous Exchange of Tax Information21 November 2018
Introduction Due to global implementation of common reporting standard (CRS)/automatic exchange of information (“AEOI”), financial institutions (“FIs”) are required to conduct due diligence on account holders to ascertain their tax residency, and accordingly whether certain information of the financial accounts of the account holders is required to be exchanged to foreign tax jurisdiction(s). The due… read more
Mainland China Individual Income Tax Reform13 November 2018
(A) Introduction The Individual Income Tax Law (‘IIT Law’) of Mainland China was introduced in 1980 and has been amended 6 times since. On 31 August 2018, the Draft Amendment IIT Law, which was released for public feedback on 29 June 2018, was approved by the National People’s Congress (‘NPC’) of the People’s Republic of… read more